Life Insurers Have Higher Claims Non-payment Ratios Than P&C Insurers…KFCF

SEOUL, June 2 (Korea Bizwire) – There are still cases in which insurance companies refused to pay insurance money for unsubstantiated reasons. According to the Korea Finance Consumer Federation, consumers ended up getting nothing in one out of every 100 claims cases on average. In 2013, the ratio of claims non-payment was 1.02 percent for life [...]